There have been a lot of questions recently about the new tax credit for first-time home buyers. I say "new" because it does differ from the credit allowed in 2008. Here are the highlights: The tax credit is for first-time home buyers only. The IRS defines a first-time home … [Read more...] about The 2009 Home Buyer Tax Credit at a Glance
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What Do the New Appraisal Guidelines Mean to You?
I've been talking about the new appraisal guidelines and what a problem it will be for those who want to refinance. In a nutshell, the mortgage originator will not be allowed to have any contact with the appraiser. This means that the person determining the value of your home … [Read more...] about What Do the New Appraisal Guidelines Mean to You?
The Best Explanation I Have Ever Seen
I found these videos on revolutionradio.org. Without question (and without the usual "jargon") these are the best explanations of what has caused our current predicament that I have ever seen. And it shows why it's much more wide ranging than just mortgages. Sit down with a … [Read more...] about The Best Explanation I Have Ever Seen
The Lull Between Christmas and New Year’s
As you can imagine, not much has happened in the markets the past few days. I don't expect much until the New Year. Lenders are changing their guidelines but rates are holding steady. I have one huge objection to these low rates the lenders are screaming from the rooftops. … [Read more...] about The Lull Between Christmas and New Year’s
An Old War Horse
Who's the Old War Horse? Why, me, of course. I've lived through so many up-swings and down-turns in the market - it's exhausting. In the early 80's when I was a stockbroker, rates were in the mid to high teens. The later 80's saw drastic changes in the real estate … [Read more...] about An Old War Horse
A Dirty Little Secret (that you already know)
When I was a stock broker in the early 80's, I remember my manager announcing to the entire office that we had to sell a certain stock that day. Our company had accidentally overbought a specific stock issue and we had to get rid of it, so sell! sell! sell! Who cares if it fits … [Read more...] about A Dirty Little Secret (that you already know)
